What were the total assets for Engineering For Kids in 2024?
Engineering_For_Kids Franchise · 2025 FDDAnswer from 2025 FDD Document
ertain internal control related matters that we identified during the audit.
March 31, 2025
ENGINEERING FOR KIDS INTERNATIONAL, LLC BALANCE SHEETS DECEMBER 31, 2024, 2023 AND 2022
| 2024 | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ | 21,735 | $ | 117,655 | $ | 31,036 |
| Accounts receivable, net of allowance for credit losses | 58,661 | 45,523 | 62,234 | |||
| Due from related party | 14,968 | - | - | |||
| Prepaid expenses | 2,575 | 6,200 | 6,311 | |||
| Total current as |
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to Engineering For Kids's 2025 Franchise Disclosure Document, the company's total assets for 2024 were $138,356. The balance sheet provides a detailed breakdown of these assets, distinguishing between current assets and intangible assets. Current assets, which are assets expected to be converted to cash or used up within one year, totaled $97,939 and included cash and cash equivalents, accounts receivable, amounts due from a related party, and prepaid expenses. Intangible assets, less accumulated amortization, amounted to $40,417.
For a prospective franchisee, understanding the asset composition of Engineering For Kids is crucial for assessing the financial health and stability of the franchisor. A higher asset base can indicate a stronger financial position, which can be reassuring for franchisees who are investing in the brand. The mix of current and intangible assets can also provide insights into the nature of the business and its potential for growth. For instance, a significant portion of intangible assets might reflect investments in intellectual property or brand recognition.
It is also useful to compare these figures with previous years to identify trends. In 2023, Engineering For Kids had total assets of $218,424, and in 2022, the total assets were $119,691. The decrease in total assets from 2023 to 2024 could be a point of inquiry for potential franchisees, warranting a discussion with the franchisor to understand the reasons behind this change. Understanding the franchisor's financial performance and asset management strategies can help franchisees make informed decisions about their investment.